Budega North Hollywood (“NOHO”) is generating strong store level performance highlighted by a nearly 300% increase in gross sales in April as compared to the first month of operations in March. NOHO’s growth is being driven by positive trends in store metrics such as foot traffic, ticket numbers and basket size. Additionally, 96% of customers are enrolling in Budega’s loyalty program. Budega Delivery, which Halo anticipates will increase topline sales by 33%, will be launched soon to further improve store performance.
Comment Beau McKeonSVP of Retail Operations “Budega Noho is off to a promising start in only its second month of operation, with gross sales tripling and almost all of our customers joining our loyalty program. It’s clear that the community has welcomed us as a new neighbor, and we continue to build momentum with market share.”
Budega Westwood Grand Opening May 27,
Halo is happy to announce the grand opening of BudegaWestwood. May 27,. This will be the 2nd Budega location. Los Angeles. The Westwood dispensary is ideally situated in a dynamic and heavily trafficked area, boasting over 161,000 daily vehicles within three blocks. Westwood is a central regional district for shopping, dining, movie theaters, and other entertainment. In the vicinity, there are also Century City is one of the most prominent employment centers in the Los Angeles metropolitan area, with a workforce of approximately 244,0002.
Budega Strategy: In-Store Experience
Halo has continued to evolve and innovate Budega’s in-store customer experience, elevating the normal “weed” transaction. The Company’s marketing and store operations teams have collaborated and executed captivating campaigns like “Weed Love to Meet You”Budega products are designed to inspire, motivate and compel customers. Budega offers over 1,000 SKUs of products, including top-tier California brands like Jungle Boys and Cookies, Kiva, and the Budega-branded product line. Budega dispensaries will also stock Halo’s Hush™ branded cartridges, gummies, and pre-rolls.
Added Katie FieldPresident of Halo “Budega’s early success is due to our laser focus on guest service standards and commitment to providing vast product assortment. By placing customers first and creating an inviting and welcoming shopping experience, we have instilled loyalty and for that we are deeply grateful. We expect that by building our customer relationships local market share will continue to shift to Budega.”
Both the North Hollywood and Westwood stores operate Monday through Sunday from 7 a.m. to 10 p.m. Visit www.budega.com for more information.
About Halo Collective Inc.
Halo is a multinational incubation company that has assets and operations in both the THC and non THC sectors. For the THC sector, Halo is focused on the West Coast of the United States where it has vertically integrated operations covering the entire value chain from seed to sale. Halo grows, extracts and manufactures high-quality cannabis flower, prerolls, vape cartridges, edibles and concentrates. Halo sells these products under a portfolio of brands including Hush™, Winberry Farms™, Williams Wonder Farms, its retail brand Budega™, and under license agreements with Papa’s Herb®, DNA Genetics, and FlowerShop*. Halo has opened a dispensary in Los Angeles under the Budega™ brand in North Hollywood and plans to open two more in Hollywood, and Westwood in the second quarter of 2022. Halo also operates three Kushbar retail cannabis stores located in Alberta, Canada.
Halo is expanding in the non-THC market by acquiring functional supplements, such as CBD and non-psychotropic mushroom products, and also into health and wellbeing categories like CBD. Halo, through a series of acquisitions, has product offerings in the form of beverages (H2C Beverages), dissolvable strips (Dissolve Medical), capsules (Hushrooms™), and topical supplements (Hatshe) with proposed national distribution via a strategic agreement with SWAY Energy Corporation. Halo has entered into a letter of intent to acquire Phytocann Holdings, one of Europe’s leading wellness CBD consumer packaged goods companies with a portfolio of value and premium brands including Ivory, Harvest Laboratoires, Easy Weed, Kanolia, Herboristerie Alexandra, Buddies and Ghosty Buds.
Halo was an incubator and has successfully acquired and integrated many companies. Then, Akanda Corp. (NASDAQ) was created. AKANHalo currently holds approximately 44% of the common shares of, an international medical cannabis company and wellness company. Halo also acquired software development assets such as CannPOS, Cannalift and CannaFeels. Also, Accudab, a discrete sublingual dosing system, has been acquired by Halo. Halo plans to reorganize these entities, including their intellectual property, patent applications, into a subsidiary called Halo Tek Inc. and to complete a distribution to shareholders on record at a date to to be determined.
Cautionary Note Concerning Forward-Looking Information & Statements
This press release contains certain “forward-looking information”Within the meaning of applicable Canadian securities legislation. It may also contain statements that could constitute “forward-looking statements”The safe harbor provisions of the United States Private Securities Litigation Reform Act (1996). Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Halo’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Halo’s control. These forward-looking information and statements can generally be identified using forward-looking terminology, such as “plans”, “expects”Or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”Or “does not anticipate”Or “believes”These words and phrases, or variations thereof, may include statements that certain actions or events are required. “may”, “could”, “would”, “might”Or “will be taken”, “will continue”, “will occur”Or “will be achieved”. Forward-looking information may relate to anticipated events or results including, but not limited to the operation of the Company’s Budega-branded retail dispensaries in California and the prospects thereof, management’s plans regarding its portfolio of cannabis businesses, the Company’s expansion plans regarding Canada, the expected size and capabilities of the final facility planned at Ukiah Ventures, the size of Halo’s planned cultivation facility in Northern California, and Canmart’s ability to serve the UK market.
Halo is highlighting such information and statements by doing so, to alert the reader to the fact that such information, statements, and statements are subjected to known and unknown uncertainties, risks, and other factors that can cause actual results not to match those implied or expressed in such information. Halo has also made assumptions in relation to the forward-looking information contained in this press release. While Halo believes the assumptions and factors used to prepare the forward-looking statements and information are reasonable, undue dependence should not be placed upon such statements and information. Furthermore, no assurance or guarantee can given that such statements and forward-looking statements will prove accurate. Actual results and future events may differ materially from those projected in such statements and information. Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: inability of management to successfully integrate the operations of acquired businesses, changes in the consumer market for cannabis products, changes in the expected outcomes of the proposed changes to Halo’s operations, delays in obtaining required licenses or approvals necessary for the build-out of Oregon operations, dispensaries or Canadian operations, the proposed spin-out with Halo Tek Inc., delays or unforeseen costs incurred in connection with construction, the ability of competitors to scale operations in Northern California, delays or unforeseen difficulties in connection with the cultivation and harvest of Halo’s raw material, changes in general economic, business and political conditions, including changes in the financial markets; and the other risks disclosed in the Company’s annual information form dated March 31, 2021 and other disclosure documents available on the Company’s profile at www.sedar.com. If any of these risks, uncertainties, or other factors occur, or if assumptions underlying forward-looking information and statements prove to be incorrect, actual results could differ materially, from those described herein.
Forward-looking information and statements contained in this press statement are made as of the date this press release was issued. Halo does not assume any obligation to update any forward looking information or forward-looking quotes contained or referenced in this press release except as required by applicable securities laws. This notice expressly qualifies any forward-looking information or statements that are written or oral and attributed to Halo, or persons acting on its behalf.
Third Party Information
This press release contains data from the market and industry that has been obtained through third-party sources including industry publications. Although the Company believes that the industry data provided is accurate and that its assumptions are reasonable, it cannot guarantee the accuracy or completeness. Third-party sources generally state that the information in the press release was obtained from reliable sources, but there is no guarantee as to the accuracy and completeness of the information. The Company has not independently verified the data from third-party sources mentioned in this press release, nor have they determined the economic assumptions underlying the data.
This press release is not intended to be an offer to sell or the solicitation of an order to buy any securities. Nor shall it be sold in any state or jurisdiction where such an offer, solicitation, or sale would be illegal before registration or qualification under the securities laws.
SOURCE Halo Collective Inc.